Time for disastrously stupid system to end

ROB Windsor (Letters, June 11) calls for “our city to demand no cuts in services, and the necessary funds to support a city that has contributed to manufacturing for decades”, and notes that council leader John Mutton says that services will depend on “how much the government gives us”.

ROB Windsor (Letters, June 11) calls for “our city to demand no cuts in services, and the necessary funds to support a city that has contributed to manufacturing for decades”, and notes that council leader John Mutton says that services will depend on “how much the government gives us”. Both are absolutely right.

Our economic troubles stem largely from the fact that governments have abdicated their responsibility to create money for spending as necessary and instead borrow from commercial banks which create it for lending at interest to a public and the government – hence the national debt.

This is a process which creates far too much money and even more debt.

This disastrously stupid and wicked system has to end.

People devoted to money reform in the Bromsgrove Group have drafted a bill to be put before Parliament to rectify the situation. Details are available at www.BankofEnglandAct.co.uk